Gov. Arnold Schwarzenegger on Thursday signed a bill aimed at selling California's vacant homes and encouraging new construction by extending a $10,000 state tax credit for first-time home-buyers.
The governor signed a bill the state Legislature passed on a bipartisan vote earlier this week. It provides a state tax credit to first-time home-buyers who buy new or existing homes from May 1 until the end of 2010.
Home-buyers can claim 5 percent of the purchase price against their California taxes, or up to $10,000.
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Heather Farquhar 818-388-2743